## **Annual report for the financial year ending 31 December 2021** ## **Charity number** 1181624 ## **Companies number** CE016243 ## **Website** www.solbergafoundation.com ## **Trustees** Camilla Johansson Kristina Johansson (Chair) Lyndsey Johansson Vanessa Johansson ## **Registered address and attorneys** Bates Wells Braithwaite LLP 10 Queen St Place London, EC4R 1BE United Kingdom ## **Bankers** HSBC Private Bank (Suisse) SA Gartenstrasse 26 P O Box CH-8027, Zürich Switzerland HSBC Private Bank 8 Cork St, Mayfair London W1S 3LJ United Kingdom ## **Overview** The Solberga Foundation is an independent grant-making charity which was registered as a UK charity on January 18, 2019 and is governed by its constitution. The Foundation currently has four trustees. Kristina Johansson is both the Chair of the board of trustees and the Managing Director. The objects of the Foundation are to advance such charitable purposes (according to the laws of England and Wales) as the Trustees see fit. The Solberga Foundation funds organisations that are working on animal welfare and climate justice. ## **Mission** The mission of the Solberga Foundation is to promote compassion and peaceful coexistence between humans, animals, and nature. The Foundation envisions an end to the negative human impact on the natural environment and all who live in it. This mission is supported on a local and community level as well as through global and systemic initiatives. As systems thinkers and advocates for future generations, the Foundation embraces and invests in initiatives that address root causes, and shape a more sustainable, equitable and compassionate future world. Solberga Foundation is dedicated to supporting innovative, lasting solutions that improve lives, empower communities and preserve the land. ## **Governance** The trustees held two meetings during the course of the year online and agreed that Kristina Johansson will continue to manage the day-to-day activities of the charity. The charity is a family-run entity where new trustees are appointed by the existing board. The appointment of each trustee continues until a trustee resigns. No changes to the trustees were made in the year. No serious incidents occurred in the financial year affecting the charity. ## **Financial review** The charity received income totalling £364,817 during the 2021 financial year (2020 : £359,781). A total of £301,607 was expended on direct grant-making activities, £8,225 on other programmatic costs and £5,977 on support costs. The year-end net assets position of Solberga Foundation is £123,457. ## **General activities** The Foundation does not have any staff members. The Managing Director administers the day-to-day activities of the Foundation on a pro bono basis. Over the course of the year, they represented the foundation in various fora, further developed the grant making strategy and progressed the operational activities of the Foundation including updating the application process and updating the Foundation website. ## **Grant Making** In order to become an effective grant making entity the Foundation continued to further develop bespoke grant making agreements and established the necessary due diligence processes that met the requirements of the Foundation, ensured relevance compliance with applicable legislation, strove to model best practice with regards to grant making and aimed to not place undue burden on any potential grantees. The Solberga Foundation does not accept unsolicited grant applications. Grants are made at the discretion of the trustees and range in size from £5,000 to £50,000. Grant periods are for one year from the date of grant agreement. Grant due diligence is managed internally and includes the review of potential grantees through an application form and grant agreement as well as a telephonic or in person conversation with any potential grantees. The trustees agreed to the grant making strategy for 2021 and agreed to make the following 23 grants totalling £301,607. |||| |---|---|---| |**Grantee Name**|**Location**|**Grant Amount (£) ***| |War on Want|UK|£ 30,000| |Resist and Renew|UK|£ 10,000| |Citizens UK|UK|£ 15,000| |The Ubele Initiative|UK|£ 10,000| |UK Tar Sands Network|UK|£ 4,000| |Uplift|UK|£ 25,000| |Climate Tipping Point|UK|£ 15,300| |Animal Equality|UK|£ 20,000| |Article 11 Trust|UK|£ 15,000| |Tripod|UK|£ 15,000| |Mondo Bizzaro Productions|USA|£ 724| |London Mining Network|UK|£ 10,000| |People and Planet Student Activities|UK|£ 10,000| |The Pollockshields Trust|UK|£ 15,000| |Pubilc Interest Research Centre|UK|£ 15,000| |Make Waves|UK|£ 14,360| |Multiplier|USA|£ 20,250| |Tikkun Olam Productions Ltd|USA|£ 10,770| |Thousand Currents|USA|£ 10,838| |Food Empowerment Project|USA|£ 7,225| |Eurogroup for Animals|Belgium|£ 17,237| |Leadership Council for Justice and Accountability|USA|£ 10,903| *Grants are paid from the Foundation’s USD bank account and converted to GBP at the rate of conversion on the day the grant payment was made. For 2021, 3 main priorities were established and progressed: ## **Make 10-15 grants in the areas of climate change and animal welfare to the value of approximately** ## **£400,000. Most of these grants will be focused in the UK based as laid out in the Foundation strategy.** 23 grants to climate justice groups and animal welfare groups totalling £301,607£ were made during the course of the year, exceeding the grant target set but falling short of the financial grant making target. ## **Develop a medium-term grant making strategy, recognising how the COVID 19 pandemic impacted** ## **Foundation grantees and the broader sector for climate change and animal welfare.** A medium-term grant making strategy was developed. This was created with the support of advisors and consultants. ## **Continue to strengthen and develop the Foundation’s operating systems** The Foundation’s operating systems were further developed and the Foundation’s website and application process were updated and further refined. For 2022 the Foundation has set the following objectives: - Expand grant making to make at least 20 grants in the areas of climate change and animal welfare to the value of approximately £600,000. - Further update the medium-term grant making strategy with a focus on climate change and animal welfare. - Continue to strengthen and develop the Foundation’s operating systems, review and update grant agreements and look at expanding internal capacity. Kristina Johansson Chairperson & Managing Director Solberga Foundation Statement of Financial Activities for the year to 31 December 2021 2021 2020 Total Total Notes Income Donations and legacie Bank interest 364.817 359.781 Total Income 364.817 359.781 Expenditure Fund raising Charitable activities 325.394 279.036 Tolal expendlture 325,394 279,036 Net Income l expendllure 39,423 80,745 Net movoment In funds 39,423 80,745 Re¢on¢lllatlon of funds Total funds brought foThvard 84.034 3.289 Tolal fvnds carrled forward 123,457 84,034 These financial statements have not been audited but have been independently reviewed. The notes form part of these accounts Approved by the Board of Trustees on 31 October 2022 and signed on their behalf: Kristina Johansson Chairperson & Managing Director Solberga Foundation Notes to flnancial statements frylhg year to 31 D¢¢8mb¢r 2021 Prln¢ipal accounting poli¢i•s The pnncipal ac￿untIng polirA&S adopted In the preparntson of the financNI Etalenwnts are sel out bekiw. Balls olaccounung Th88è fingntsal ststsm&nts havè beèn prepayed undèrlhè histo￿tal cost convènlon In accordanc8 ¥￿h th8 Ststeff*nt of Ro¢ommÈndèd PrdCtts'Accountiny and Reportiny by Chariiiès, Èffectivd Jgnuaty 2019 (thè ￿alIt*S SORP IFRS 1021 UK a¢countiny Standards. induding'Financ￿l RÈportiny StsThda￿ 102 Th¢ F￿an¢1•1 Report￿9 Standard appltsblè in Ihè UK and ROpubl￿ of ltsL4nd' IFRS 1021 and the Conyanios Act 2006. Th$ charity 1$ a public b8nofft otitty and hag ther8f0￿ 8ppl*d th8 lovant publi¢ bonèfrt t¥quitè￿nt8 of FRS 102. The financHI 5talenwnts are prepared ￿ Slgrhng Vdhth ￿ the functK>nal currency of the charity. 1. In¢om• All Incorn￿9 re90urces are induded kn the stalen*nt of flnandal acllvitles when the chBrtty Is en￿ed lo the In￿m& And the AnTriunl CAn be qUant￿￿d ￿th reasonab￿ arAracy. 1nttln￿ reCA￿d L4 a ￿nt￿bUt￿)n fromlhe Johansson fanlty lolallng £364,817 P020'. £357,781) forlhe flnandal year. 2. Exp•Niityro Expenditure is ￿Cogn￿d on an accruaLs ba￿¥ as a liablty ￿ ￿rU￿ed. and ￿￿{10$ any VAT whith Lannot be fulfy ￿Cove￿d. 01 Expenditu￿ Dn charttabb aCt￿lh￿s comprisds Èxpttndituts tsLgttd to thè dit¥ct furth¢ranc& of th8 ¢h8￿Y'S Ob￿ctiVeS Oitherthrough ditsct gtsni maknng £304.454 P020." e259.4751 ordts¢t progr8mmatiC $p¥nd su¢h •$ ￿￿$v￿ants $nd mèmbtrtship f8$$ £8.225 P020." £10,0491. Support C0515 rnlale lo Ih06e fUnct￿n$ that ass￿1 the ol the charity bul do not diTrctty undertake thantable activitKgs. Support costs indude bank charge5, fee5 and consuttanl cos15 forgovemance and rnance support. GrAnl Ma￿Thg ThAèn*etships P￿IgraT[W￿aI￿ c0515 Support costs Total Exchange raie Ios8 I Igalnl Total charitab￿ ACt￿rt￿5 301,807 2.846 8.225 5,977 318.455 8.939 325,394 Forolgn currency Transactw)ns in cuff¥n¢￿8 ara initialty r¥¢ordad in tho antit￿$ functional ¢urren¢y. v4hith is pound Stsrfing. by applwng th• average rYK>nlhly exthange rdte foreach n￿nth'S Irdnsaction5. ￿)netary assets and liabllrt￿S denOrr￿￿ated in foreign GUThn(xgs are Iransbted at the rale of exthange on the b81gn¢¢ $h$et dale. Al drfTeTen¢¢$ 8Fe taken lo the $talon*nt of flnanci81 aCtk4￿￿S. 3. Fundralslng AS ¥ foundation tha Solbewa Foundation doo8 not undenak8 fundraislng 8¢bviti88 norintyJrfundri8$lng ¢0$1s. 4. Total currerrt assets At the ond of the ygarlhe Foundalx>n hekj Ga5h acros6 it5 USO and G8P bank accounts HS8C in the UK and and he￿ no olherbalance she&l assets of any olher 90rt Trustse8' remuneralon and vxpen••• The Foundalh)n noi pay any remun$r8lk)n to tts Iw$lo8$ du￿n0 th8 ye8r8nd not r8lr(&ur$8 any tw*eg expen¥oS. R•lat•d porU•* The Foundalv)n ente￿d in to no TrLaled party IrdnsasctDns. The Foundalk)n Is exenyt from tax on 1Th￿rne and gains fallmg ￿thin sectk)n 505 of the Taxes Act 1988 orseclion 252 of the Taxation of Chargoablo Ga￿$ Act 1992 10 the extent that the$8 a￿ appltsd 10 its charitab￿ obj8¢ts. ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SOLBERGA FOUNDATION** I report to the charity trustees on my examination of the accounts of the charity for the period ended 31 December 2021 which comprise the Statement of Financial activities, Balance Sheet and related notes. The accounting period is from 1 January 2021 to 31 December 2021 and is the third set of accounts prepared by the charity. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts to not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Elizaveta Khaydari BA (Hons), ACA 18 October 2022